CHAPTER IV
INDIRECT TAXES
Customs
Amendment of section 127C.
58. In section 127C of the Customs Act, in sub-section (6), the following proviso shall be inserted, namely:—
"Provided that the period specified under this sub-section may, for reasons to be recorded in writing, be extended by the Settlement Commission for a further period not exceeding three months.".
Notes on Clauses:
Clause 58 of the Bill seeks to amend sub-section (6) of section 127C of the Customs Act to insert a proviso therein with a view to provide that the period specified under that sub-section may be extended by the Settlement Commission for a further period not exceeding three months, for reasons to be recorded in writing.
